Hubbell now offering single-family house rentals
Business Record Staff Sep 22, 2023 | 10:47 am
1 min read time
343 wordsAll Latest News, Housing, Real Estate and Development, Retail and BusinessHubbell Homes and Indigo Living have begun renting single-family houses in the Greater Des Moines area, the companies announced this week.
The houses range from 1,200- to 2,200-square feet and include two to four bedrooms and up to three bathrooms. Rents range from $1,700 to $2,700, depending on the size of the house. Some of the houses include basements; others have private decks.
Hubbell Homes is building 56 rental houses in nine Central Iowa communities; 23 houses are currently available and 13 have been leased.
“We know there is a rental housing need for people who would rather rent a home than live in a traditional multifamily community yet may not be at the stage to buy,” Rachel Flint, Hubbell Homes vice president, said in a prepared statement.
Many renters are 30 to 44 years old and are looking to live in bigger spaces but don’t want to buy a house, according to a release from Hubbell Realty Co., parent of Hubbell Homes and Indigo Living. Some don’t have money available for a down payment on a house; others want to avoid maintenance, according to the release.
Single-family rentals are increasing in popularity across the nation both in renter demand and among investors.
“If you search Zillow for rental homes, very few results populate in the Greater Des Moines area, and we are consistently being asked if single-family rentals are something we provide as a property manager,” Derek Haugen, Indigo Living’s vice president, said in a prepared statement.
Hubbell Homes, based in West Des Moines, builds about 200 houses annually. Indigo Living is an apartment property management company that operates in Iowa; Sioux Falls, S.D.; and Kansas City, Mo., managing an estimated 7,900 apartments and single-family rental homes.
To learn more about the new rental houses, visit https://www.tworivershomerentals.com/.